4-month Thai govt revenues exceed target by 7.9%

[webfact]

4-month government revenues exceed target by 7.9%



BANGKOK: -- Government revenues for the first four months of 2016 fiscal year starting last October amounted to 742 billion baht, representing 7.9 percent above target or 54.3 billion baht increase, according to Mr Krisda Chinavicharana, director of Fiscal Policy Office.

The collected revenues are also 11.1 percent higher than the amount collected during the same period a year ago.

Mr Krisda disclosed that revenues from excise tax, VAT, personal income tax and other taxes had all increased exceeding targets. These include 3,680 million baht increase in personal income tax and 3,680 million baht increase in car excise tax.

He is optimistic that the Finance Ministry’s stimulus packages and investments in mega infrastructure projects would help drive the economy and, as a consequence, will translate into increased revenues for the government.

Source: http://englishnews.thaipbs.or.th/content/152289


-- Thai PBS 2016-02-25

[shirtless]

They seem so happy to raise taxes, and proud of this result,

[Eric Loh]

11% over a bad low base last year. That's a poor KPI.

[topt]

11% over a bad low base last year. That's a poor KPI.

It's a damn site better than being 11% under..........

They also (according to the article) exceeded their target. If the economy is in the toilet (as so many seem to be saying) one could argue not a bad result. Like everything else it is relative and simply saying it's "a poor KPI" with no supporting data is (IMHO) a pretty pointless comment.

[Srikcir]

Government revenues for the first four months of 2016 fiscal year starting last October amounted to 742 billion baht, representing 7.9 percent above target or 54.3 billion baht increase.

Amazing and unexpected performance IF TRUE.

Because if true the Prayut regime should immediately return the 54.3 billion baht surplus funds to the Thai taxpayers! Just a week ago the government made an urgent request to the National Legislative Assembly to pass a 56 billion baht additional expenditure bill for spending on critically needed public projects. In response an emergency meeting was called by the NLA to give approval to a budget increase for the 2016 budget. This "new" money was off-budget and will need to be financed by selling treasury bonds (aka borrowing).

It is more likely the government's revenue collection spiked due to getting at least Bt161.9 billion from auction of two 900MHz spectrum licences for 4G cellular service. At a time when the government is getting windfall revenues it shouldn't be increasing national debt.

[clockman]

No transparency in any sector, and white lies are ok! The last finance minister said so.

[Eric Loh]

Government revenues for the first four months of 2016 fiscal year starting last October amounted to 742 billion baht, representing 7.9 percent above target or 54.3 billion baht increase.

Amazing and unexpected performance IF TRUE.

Because if true the Prayut regime should immediately return the 54.3 billion baht surplus funds to the Thai taxpayers! Just a week ago the government made an urgent request to the National Legislative Assembly to pass a 56 billion baht additional expenditure bill for spending on critically needed public projects. In response an emergency meeting was called by the NLA to give approval to a budget increase for the 2016 budget. This "new" money was off-budget and will need to be financed by selling treasury bonds (aka borrowing).

It is more likely the government's revenue collection spiked due to getting at least Bt161.9 billion from auction of two 900MHz spectrum licences for 4G cellular service. At a time when the government is getting windfall revenues it shouldn't be increasing national debt.

The tax revenue collected for past years can be viewed from the ministry website. The figure of 742 B Bt is grossly overstated. There is error there and hope the ministry will correct this misinformation. The figure is more like 400+ B Bt much in line with regular monthly collection. The increase in tax is due to higher sin tax, automobile and the 4G bid

[gandalf12]

Government revenues for the first four months of 2016 fiscal year starting last October amounted to 742 billion baht, representing 7.9 percent above target or 54.3 billion baht increase.

Amazing and unexpected performance IF TRUE.

Because if true the Prayut regime should immediately return the 54.3 billion baht surplus funds to the Thai taxpayers! Just a week ago the government made an urgent request to the National Legislative Assembly to pass a 56 billion baht additional expenditure bill for spending on critically needed public projects. In response an emergency meeting was called by the NLA to give approval to a budget increase for the 2016 budget. This "new" money was off-budget and will need to be financed by selling treasury bonds (aka borrowing).

It is more likely the government's revenue collection spiked due to getting at least Bt161.9 billion from auction of two 900MHz spectrum licences for 4G cellular service. At a time when the government is getting windfall revenues it shouldn't be increasing national debt.

The tax revenue collected for past years can be viewed from the ministry website. The figure of 742 B Bt is grossly overstated. There is error there and hope the ministry will correct this misinformation. The figure is more like 400+ B Bt much in line with regular monthly collection. The increase in tax is due to higher sin tax, automobile and the 4G bid

Nit picker

[Ulic]

Did revenues really increase or was there a little less skimming going on. Not really sure.